The global gaming industry is walking a tightrope. Indie developer Adam Riches recently summed things up by saying ‘everything is on fire at the moment’.
He is not exaggerating. The industry has been ravaged by lay-offs, studio closures and investors refusing to plough significant resources into the sector.
Developers are under pressure, especially those in the indie space. Big development companies flood the market with games, making it difficult for smaller outlets to survive.
The Battle for Player Attention
Modern gamers are spoilt for choices. There are thousands of titles to choose from, including favourites such as Fortnite, Call of Duty and EA Sports FC.
Per analytics firm Newzoo, established titles make up 92 percent of gaming time. New games, no matter how innovative and exciting, are fighting for the rest of the market.
This battle for the gaming community’s attention is not won by marketing. It is also about timing, community engagement and sometimes sheer luck.
Indie developers are constantly struggling to secure funding. The investment poured into the gaming market years ago has dried up, and many creators need to seek alternatives.
Some companies have come out to provide industry solutions such as Innersloth. They recently launched the Outersloth fund and provided indie developer Husban Siddiqi with funding for his game Rogue Eclipse.
However, funding does not solve one pivotal issue – sustainability. Co-founder of Hooded Horse and publisher of the successful Manor Lords, Snow Rui, believes studios shouldn’t be so quick to expand when they strike gold.
Indie developers must focus more on sustainable growth, and investors and other stakeholders should temper their expectations. These are the keys to long-term success.
Why iGaming Might Be the Answer
With these issues challenging their ability to keep the lights on, some developers have turned to the iGaming sector – an industry thriving in the background.
The iGaming sector includes online casino games, poker, sports betting and other interactive gambling platforms. This sector is laden with financial opportunities, and is a creative outlet for developers not afraid to think outside the box.
The global iGaming market is expected to surpass $100 billion by 2027, with the United Kingdom and the Republic of Ireland as major players. The best online casinos in Ireland stand as a testament to this growth.
They offer players hundreds of games, lucrative bonuses and secure payment options. Their growth has been driven by the latest advancements in technology, regulatory changes and growing interest in digital betting.
Developers looking to venture into this industry can use their game design, storytelling, narrative building and player engagement skills to create captivating online casino games and interactive betting platforms.
Businesses in the industry run on a different model from traditional gaming companies. Their revenue comes from microtransactions, user retention and new gamification strategies.
With technical tools such as blockchain and virtual reality becoming mainstays in the iGaming scene, more traditional gaming firms will look to spread their wings. Indie developers can apply their skillsets to these tools to create and improve products.
Broadening Horizons for Sustainability
Branching out to iGaming does not mean traditional game developers must abandon their niche – it is simply diversifying.
Riches is among the developers who has been burnt by the volatile indie market and acknowledged iGaming as a potential solution to find stability.
Another interesting aspect that makes it appealing is that smaller teams can thrive. They need to be agile and create – already areas indies excel at.
Indie developers who choose to stay in their lane need to be creative and adaptable. Outersloth is an excellent programme that will fund great games.
However, developers need to consider new modes of funding, fresh platforms or outside markets such as iGaming. The challenge lies in sniffing out the ideas that will have the most impact.